Monday, May 1, 2017

Congress proposes to extend the EB-5 regional center program through the end of FY2017

(Source: EB-5IC) Congress is poised to extend the EB-5 Regional Center Program through 9/30/17 without any changes.  The House Appropriations committee submitted a deal on Continuing Appropriations  in the early morning of May 1, 2017.  We expect the Omnibus Appropriation bill to proceed to House Rules Tuesday with a vote on the House floor on Wednesday.  The bill will then proceed to the Senate with time to meet the short-term patch deadline for approval by midnight Friday.  Section 542 of the bill would extend the EB-5 program as is:  
Here is the quoted language:  "SEC. 542. Section 610(b) of the Departments of Commerce, Justice, and State, the Judiciary, and Related  Agencies Appropriations Act, 1993 (8 U.S.C. 1153 note) shall be applied by substituting ‘‘September 30, 2017’’ for ‘‘September 30, 2015’’. "